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CAM
Florida Community Association Manager - Review
114
Other
Not Applicable
06/03/2019

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Term
Community Associations are also known as
Definition
CIRA - Community Interest Realty Association
Term

Community Association have 3 requirements:

 

Definition

1. Mandatory membership 

2. Right to Vote 

3. Unpaid Assessment can become a lein

Term
Members cannot be denied ---
Definition

1. Access to building 

2. Hot water 

3. Electricity 

Term
What does DBPR stand for?
Definition
Department of Business and Professional Regulation
Term
Insurance is regulated by whom?
Definition
Financial Services
Term
What is the EIN? Who is this reported to?
Definition
Employee Identification Number  & IRS
Term

What quorum must be met for each? 

Condo? Coops? HOA? Timeshare?  

Definition

Condo - 51% 

Coops - 51% 

HOA - 30%

Timeshare - 15% 

Term
What is the notice requirement for annual meetings?
Definition
14 days in advance, written notice
Term
If quorum is not met for the annual meeting, does it have to be rescheduled?
Definition
No. Since a 14 day written advance was done, there is no need to re-schedule it.
Term
What chapter is the 617?
Definition
Not-for-profit
Term
What is Chapter 607?
Definition
For profit.
Term
What are the bylaws also known as?
Definition

Corporate law 

 

Term
In an HOA, the board must provide the members notice of a regular board meeting at least ______in advance.
Definition
48 hours
Term
Agenda and notice requirement for both membership and director's meeting are found in the association ---?
Definition
Bylaws
Term
In condos & coops, the bylaws must provide for at least 3 officers which are ---?
Definition

1. President 

2. Secretary 

3. Treasurer

Term
The time & date & place of regular condo membership meetings are usually stated in the:
Definition
bylaws
Term
Official records of the condo association must be open for inspection by ---
Definition
ANY member or their authorized representative at all reasonable times
Term
A valid proxy given by one of the owners of the condo association may -
Definition
serve as a valid proxy and voting certificate of given by one of the multiple owners
Term
The chairman of a condo submits a motion to the members for their approval, 110 units are Represented but vote on the motion total 112. What can be done?
Definition
The chairman can direct that another vote be taken on motion and may direct another method of voting
Term
At the annual meetings of coops, the members had elected a new board. The membership meeting has adjourned. The board then convenes and the first order of business is the election of officers. Which body will elect officers?
Definition
The board
Term
After a condo is initially set - who is initially in charge?
Definition
The developer
Term
The election of directors in an HOA will be conducted in what manner?
Definition
As outline in the declaration
Term
What notice requirement for board meetings of a condo at which a non-emergency special assessment will be considered?
Definition
14 days in advance
Term
The board of a condo wants to vote on a motion for an item not included on meeting agenda. What vote will be required to approve motion?
Definition
51% (majority)
Term
In order to change the name and address of a registered agent, a letter must be sent to the
Definition
Department of State
Term
The purpose of the annual meeting of a community association is to
Definition
provide the membership the opportunity to review affairs to the community
Term
Vacancies on the board may be filled by
Definition
the remaining board members, even if less than majority
Term
The person who receives all formal service of legal papers on behalf of a homeowner's association are -
Definition
the registered agents
Term
In order to reduce operating costs, the CHEAP CONDOS decides to have the minimal number of membership meeting. Which is?
Definition
one annual meeting
Term
A certified document provided by the association that states owner's current assessment status
Definition
Certificate of Assessment or Estoppel Certificate
Term
Each director's obligations to discharge his or her duties with due care and in the interest of the community and its members is called what?
Definition
fiduciary
Term
The Declaration, the Articles of Incorporation, and Bylaws are called what?
Definition
The Governing Documents
Term
The document that creates a condo when recorded with the Clerk of the Circuit County where the property is located.
Definition
Declaration of Condos
Term
The group of person vested with the management of the affairs of the association corporation are whom?
Definition
Board of Directors
Term
The unit owner's share of the money required to pay for expenses of the association.
Definition
An assessment
Term
Jointly owned common elements reserved for exclusive use and benefit specific units?
Definition
Limited Common Elements
Term
The minimum # of members entitled to vote who must be present, or by proxy, in order to conduction business is what?
Definition
A quorum
Term
The meeting that all community association must hold one a year--
Definition
An annual meeting
Term
Owners have petitioned the board b/c budget calls for new assessments for operating expenses in excess of 115% of previous year. What is this called?
Definition
A reconsideration
Term
The document filed with Florida Department of State that creates the community association and defines its power and responsibility.
Definition
Articles of Incorporation
Term
A 3rd party facilitates voluntary settlement between conflicting parties
Definition
Mediation
Term
Pool pH
Definition
7.2  to 7.8
Term
No diving lettering in a community pool must be how large?
Definition
4 inch
Term
What chapter is a condo?
Definition
718
Term
What chapter is a coop?
Definition
719
Term
What chapter is an HOA?
Definition
720
Term
What chapter is a timeshare?
Definition
721
Term
What chapter is mobile home?
Definition
723
Term
HOAs and Condos refer to their legal docs as
Definition
covenants
Term
Articles of Incorporation establishes entity responsible for ---
Definition
management & maintenance operation
Term
The Governing Documents are what?
Definition
Articles of Incorporation, Declaration, and Bylaws
Term
The __________ establishes formal regulations for all of the property and defines certain rights and impose certain restrictions on the members and association.
Definition
Declaration
Term
The Declaration, also known as __________________, and it transfers responsibility to new owners.
Definition
Covenant running with the land
Term

When filing documents for creation of a Condo: 

Who must file what to the Clerk of the Court? 

What articles are filed with the Secretary of State?

Definition

The developer must file the fees

Articles of Incorporation and ByLaws 

Term

When filing documents for creation of a Condo: 

What goes to the Clerk of the Court?

What goes to the Secretary of State?

Definition

1. Fees 

2. Articles of Incorporation 

Term
Within _____ days, after filing the Declaration with the Clerk of the County (DBPR) with a fee of _____ per unit to be constructed in condos
Definition
120 days - $20/unit
Term
Who is not governed by DBPR?
Definition
HOAs
Term

Filing documents of creation of an HOA:

1. Articles of Incorporation & Bylaws go to whom?

2. What is filed with the County Clerk?

Definition

1. Secretary of State 

2. Fees 

Term
Not-for-profit does not mean "tax exempt." Is this true?
Definition
True. Not-for-profit must file Federal Tax Returns.
Term
What is chapter 607?
Definition
For profit
Term
What is chapter 617?
Definition
Not-for-profit
Term
A developer, once filed with DBPR, has ______ days to notify prospectus deficiencies.
Definition
45 days
Term
Mobile Park Home developer would file the _______with DFCTSMS and pay a lot fee of ________.
Definition

prospectus 

$10

Term
In condos and coops, what budget line items would be excluded from the calculated use in determining % of budget increase for purpose of determining 115% increase in operating assessments?
Definition
Reserves for capital improvements
Term
With what government agency is the EIN filed?
Definition
IRS
Term
Any maintenance or management contract entered into a condo association must identify all but what?
Definition
# of residents it served
Term
A violation of a rule of an assessment may not be enforceable of the board doesn't act in a timely manner to correct the situation based on the principle of:
Definition
Equitable estoppel
Term
What are the 5 types of community associations?
Definition

Condos 

Coops 

HOA 

Timeshares 

Mobile Park 

Term
Bylaws are based in
Definition
corporate law
Term
Another name for Declaration of Covenants -
Definition
Declaration of Condos
Term
Developer filing for a Timeshare is _____ per unit, filed with the DBPR, with max of ______.
Definition

$2

$25,000

Term
What agency regulates CAM?
Definition
DBPR
Term
Associations greater than 10 units and $100,000 budgets - require?
Definition
CAMs
Term
Developer filing of COOPs  to DBPR, is _____ per unit and within ______ days.
Definition

$20 

30 days 

Term
Which government agency is Articles of Incorporation filed with?
Definition
Secretary of State
Term
Building maintenance and replacement reports to the "useful life" and "replacement life" of
Definition
common elements
Term
Condos are established by recording the Declaration of Condo with ---
Definition
Clerk of the County Court
Term

A quorum is what for who?

Condos? 

Coops?

HOA? 

Timeshares?

Definition

1. 51%

2. 51% 

3. 30%

4. 15% 

Term
The budget included installing a spa of $20,000. Last year's budget is $95,000. in 2017, budget is $125,000 but includes one time improvement of $20,000. Can this be disputed?
Definition
No. Becuase $125,000 - $20,000 = $105,000 and is less than 115%. Owners cannot reconsider this budget.
Term
Budgets must be separated by _______ and _______ and listed by _____________ & __________.
Definition
separated by month and date & listed by accounts and classifications.
Term
Within ____ days, after the fiscal year, an association shall prepare and complete the prep for financial report for the next year.
Definition
90
Term
Who must provide financial accounting and statements including reserves?
Definition
HOA
Term
Condos and Coops must provide an ___________ at turn over.
Definition
audited year end financial report
Term
Timeshare estimated budget include _____________when due.
Definition
Assessments
Term
When developer creates a budget, if there is not a reserve, what must be included?
Definition
A disclosure that special assessments may occur
Term
Who creates a proposed budget?
Definition
The condo/coops/developer
Term
The proposal budget is presumed to be accurate and actual cost. Is this true?
Definition
True
Term
How many months must a developer provide a copy of the current budget to a purchaser at closing?
Definition
12 months
Term
Who does a developer file an offering circular (budget) to?
Definition
DBPR
Term
An association has quarterly assessment of $500. On Dec. 31st, 2012, they foreclosed on a lot that owed 2-years assessments. On June 20. 2013, bank foreclosed $300,000. How much does bank owe on past assessment?
Definition
$2,000 - past mortgage holder is limited to lesser part of 1% of original mortgage or 12 months assessment.
Term
How can an association collect rent from a tenant with delinquent owner?
Definition

1. Association must write a demand letter to tenant 

2. Association may evict a tenant who fails to pay on demand letter 

3. a tenant who acts in good faith to a written demand letter is immune from any claim action by unit owner. 

Term
A community association are also known as -
Definition
CIRA - Community Interest Realty Association.
Term
included in documents required to be filed for Timeshares is a fee of ______ for every _____ days, for max of _______ or total fee based upon units.
Definition

$2

7 days 

25,000

Term
A developer must provide to all prospective purchasers what?
Definition
A prospectus or public offering statement
Term
The ____ establishes the day-to-day procedures outlined by the Articles of Incorp.
Definition
Bylaw
Term
What do Articles of Incorporation establish in an association?
Definition
Power of Attorney
Term
A community association have which type of corporate to manage and operate the association?
Definition
Profits and not-for-profits
Term
What establishes formal regulations for all property?
Definition
Declaration of Covenants and Restrictions
Term
What establishes the corporate entity responsible for managing, maintenance, and operation of a community association?
Definition
Articles of Incorporation or the corporate charter
Term
The Articles of Incorporation are also known as?
Definition
The Corporate Charter
Term
Condos are what chapter?
Definition
718
Term
Insurance is regulated by?
Definition
FL Department of Financial Services
Term
The special accounting requirement for coops involved compiled, reviewed, or audited financial statements would apply to
Definition
an association with a $175,000 budget or more.
Term
The easements and common elements of a condo are established in the -
Definition
declaration
Term
Vacancies on the board may be filed by -
Definition
the remaining board even if less than a majority
Term
Part V of the Condo Act gives who power to enforce and ensure compliance with this law?
Definition
The Division of Fl Condos, TIme Share, and Mobile Homes
Term
What does DFLTSMH stand for?
Definition
The Division of Fl Condos, TIme Share, and Mobile Homes 
Term
HOAs are regulated by what chapter?
Definition
720
Term
In condos, the board must provide the members notice of a board meeting at least
Definition
48 hours in advance
Term
New and Conversion community association of condo/coops have a rescission period of
Definition
15 days
Term
What is Chapter 723?
Definition
Mobile homes
Term
Developer must file fees for mobile homes to DFCTSMH at ____ lot.
Definition
$4
Term
The Governing docs can only be changed by whom?
Definition
its members
Term
Coops are what chapter?
Definition
719
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